Eagle Asset Management Inc. Purchases Shares of 42,778 Tennant (NYSE:TNC)

Eagle Asset Management Inc. purchased a new stake in Tennant (NYSE:TNC – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 42,778 shares of the industrial products company’s stock, valued at approximately $3,873,000. Eagle Asset Management Inc. owned 0.23% of Tennant as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Tennant by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,291,226 shares of the industrial products company’s stock worth $278,636,000 after purchasing an additional 40,711 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Tennant by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 684,156 shares of the industrial products company’s stock worth $65,707,000 after buying an additional 3,164 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Tennant by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 253,119 shares of the industrial products company’s stock worth $24,310,000 after buying an additional 3,975 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Tennant by 82.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 233,550 shares of the industrial products company’s stock valued at $22,430,000 after buying an additional 105,319 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Tennant by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 193,384 shares of the industrial products company’s stock valued at $19,037,000 after acquiring an additional 4,128 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.

Tennant Stock Up 2.0 %

NYSE:TNC opened at $89.69 on Monday. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 15.82 and a beta of 1.00. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. Tennant has a twelve month low of $82.54 and a twelve month high of $124.11. The stock’s 50 day moving average price is $91.17 and its two-hundred day moving average price is $96.56.

Tennant (NYSE:TNC – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.05). Tennant had a return on equity of 21.50% and a net margin of 8.52%. The firm had revenue of $315.80 million for the quarter, compared to the consensus estimate of $319.40 million. During the same period last year, the company posted $1.34 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts expect that Tennant will post 6.43 earnings per share for the current fiscal year.

Tennant Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from Tennant’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, November 29th. Tennant’s dividend payout ratio (DPR) is presently 20.81%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

Get Our Latest Stock Report on TNC

Tennant Company Profile

(Free Report)

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.

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